When is a Hard Money Loan useful?
If you have missed a few payments due to some external difficulties, Hard Money loans are great options to help you get current and into a better situation.
Traditional loans take anywhere from 30-60 days to close. With Hard Money loans you can close as quick as 7 days.
Fix & Flips
If you are trying to obtain financing greater than $765,600 – private loans are a great option as they are not regulated with loan limits!
No Credit Required
Private Portfolio lenders do not follow the same regulations as Conventional or FHA lenders. This is why they are able to help borrowers ONE DAY out of a major credit event as low as a 500 FICO.